Microsoft was for a long time the king of technology companies, in terms of their market cap, which is basically a measure of the value of a company based on number of outstanding shares x stock price. The operative word is “was,” as Apple on Wednesday passed Microsoft in terms of market cap.
Apple finished the day at $244.11, meaning its market cap is $222.12B. Meanwhile, Microsoft finished the day at $25.01, or a market cap of $219.18B. It’s the first time Apple has surpassed its longtime rival. Much of Apple’s growth, of course, has been iPhone-driven
Of course, although Microsoft is Apple’s longtime rival, it’s been stagnant stockwise. It’s no longer a growth stock, growing only about 4 percent over the last five years while Apple’s stock has skyrocketed 550 percent.
Really, Apple’s main rival now might be Google, with its Android platform. Google’s market cap sits at $151.43B as of Wednesday’s close.
Apple is now second only to Exxon Mobil in terms of market cap. Exxon Mobil has a market cap of $278.64B, which isn’t really that far off. It trails by $50B, and in March, Apple trailed Microsoft by $50B.